Does a student loan entitle you to tax breaks?
FAQs / Does a student loan entitle you to tax breaks?
No. Unfortunately, your student loan doesn’t mean that you’re exempt for either tax breaks. Many students are unaware of this, they believe that having an added cost on their salary will mean that they either get a lower tax code or will have their tax written off completely. You’ll pay income tax on your salary before your loan repayment comes even comes into play.
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